Hello,
I've been trading securities on and off for about ten years through Investrade (previously Empirenow). Once upon a time, I had a margin account and could buy and sell the full value of my account over and over again all day long. Then the rules were changed, I was designated a "day trader" and was limited to three or four trades a week. This didn't bother me since I was moving away from day trading anyway. To make a long story short, I got away from trading for a couple of years and recently got back in. Now I find that when I buy a position, it typically takes a week for the settlement to take place. If I sell the position before the settlement, as I often do, my account is frozen until the settlement.
My question is: is there a broker out there who offers instant or at least next day settlements to non-margin accounts?
I've been trading securities on and off for about ten years through Investrade (previously Empirenow). Once upon a time, I had a margin account and could buy and sell the full value of my account over and over again all day long. Then the rules were changed, I was designated a "day trader" and was limited to three or four trades a week. This didn't bother me since I was moving away from day trading anyway. To make a long story short, I got away from trading for a couple of years and recently got back in. Now I find that when I buy a position, it typically takes a week for the settlement to take place. If I sell the position before the settlement, as I often do, my account is frozen until the settlement.
My question is: is there a broker out there who offers instant or at least next day settlements to non-margin accounts?
